Access Holdings’ share price fell by 6.26% today as the group’s shareholders mourn the demise of Herbert Wigwe.
Coming off a bearish week where Access Holdings posted a 2.25% decline, the stock’s share price lost a further N1.55 to close at N23.20, from last Friday’s N24.75.
There was a high volume of activity around Access stocks, as Access Holdings was the highest-traded stock in the NGX, with 24.90 million units of ACCESSCORP traded. In terms of value, ACCESSCORP recorded a trading value of N575.1 million.
Speaking to Nairametrics, Patrick Ajudua, the President of the New Dimension Shareholders Association, noted,
- “As we bid farewell to Herbert and others who lost their lives in this unfortunate event, we offer our prayers for their souls to rest in peace. May God grant solace to the entire Access Bank community, including the board, management, staff, as well as friends and well-wishers.”
- Moses Ibrude, the National Co-ordinator of Independent Shareholders Association of Nigeria, speaking about Wigwe’s passing, noted, “The loss of such a remarkable individual will be keenly felt by all who knew him especially the staff of Access Holding, shareholders and other stakeholders.”
What you should know
With the sudden and lamentable passing of Herbert Wigwe, Access Holdings has officially declared its intention to appoint an interim Group CEO. As the organization navigates this unexpected turn of events, an emergency management plan is being swiftly formulated and is poised to be implemented.
As Group CEO of Access Holdings, Wigwe grew the bank’s assets to N21.4 trillion as of Q3 2023, making it the largest bank in Nigeria in terms of assets.
- In reacting to Wigwe’s death, Access Holdings noted, “The Access Family has suffered a major loss with the passing of Dr. Wigwe who was a great friend and fine gentleman. He had a prodigious intellect, admirable personal qualities, and vast business experience which he brought to bear on the Access Family and for which we owe him a debt of gratitude.”